01 Aug DRIVEN TO SUCCEED: WHAT’S THE FUTURE OF AUTO PARTS?
What’s next for vehicle manufacturing and components? Ironically, even the best future of auto parts speakers and car futurists are torn on what’s coming next on several fronts. That’s because a huge tidal wave of disruption and digital transformation is sweeping the space. And because AI, automation, machine learning and other new technology trends are also upending the field as well. However, were you to ask a few of the best-known future of auto parts speakers and car futurists, you might get answers like those that await below. Just scroll down to learn more…
- Electric vehicle parts – With more EVs on the road, demand will rise for batteries, charging components, power electronics and motors versus traditional engine parts.
- Advanced materials – Auto parts will increasingly use lighter weight or more durable materials like composites, aluminum and carbon fiber to improve fuel efficiency like the best future of auto parts speakers and car futurists describe.
- Sensors and electronics – Vehicles are getting more sophisticated sensors, processors and software to enable ADAS, autonomy and connected car technology.
- On-demand manufacturing – Digital inventory and production could enable parts to be printed or produced quickly on-demand using 3D printing or flexible manufacturing.
- Supply chain automation – Per the best future of auto parts speakers and car futurists, warehouse robotics, RFID and other technologies will help auto suppliers and retailers manage inventory and fulfillment more efficiently.
- Consolidation – The aftermarket may see more consolidation as companies merge to achieve scale and geographic breadth.
- Omnichannel retail – Auto parts retailers will diversify into e-commerce, on-demand delivery, installation services to meet changing consumer demands.
- Predictive maintenance – Telematics and usage data will power analytics to predict required maintenance and replacement parts for vehicles.
- Direct distribution – Parts suppliers may explore direct online sales to DIY consumers versus relying solely on traditional retail networks.
- Sustainability – More sustainable manufacturing, reduced packaging waste, recycled materials andcircular economy business models will be embraced as well – no secret among the best future of auto parts speakers and car futurists either.
Overall, the industry will evolve considerably to support vehicle technology advancement and changing distribution models. Agility and innovation will be key for auto parts companies to adapt and succeed.
